Loblaw Companies (TSE:L) Stock Price Expected to Rise, Scotiabank Analyst Says

Loblaw Companies (TSE:L) had its price target increased by Scotiabank from C$68.00 to C$70.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 10.72% from the stock’s previous close.

Several other brokerages have also issued reports on L. Canadian Imperial Bank of Commerce boosted their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. Royal Bank Of Canada lifted their price target on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. TD Securities boosted their price objective on shares of Loblaw Companies from C$65.00 to C$75.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Desjardins upped their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, National Bank Financial lifted their target price on Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$92.63.

Loblaw Companies Stock Down 1.4%

Loblaw Companies stock opened at C$63.22 on Thursday. Loblaw Companies has a one year low of C$45.47 and a one year high of C$69.59. The stock has a fifty day moving average of C$63.81 and a 200 day moving average of C$65.83. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The stock has a market cap of C$74.67 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 3.23 and a beta of 0.30.

Loblaw Companies (TSE:L) last released its quarterly earnings results on Wednesday, February 25th. The company reported C$0.67 earnings per share (EPS) for the quarter. Loblaw Companies had a return on equity of 19.90% and a net margin of 3.71%.The business had revenue of C$15.70 billion during the quarter. As a group, sell-side analysts predict that Loblaw Companies will post 9.1225541 EPS for the current year.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.